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What legal restrictions are there on advertising?

What legal restrictions are there on advertising?

For Regulation Crowdfunding, you are only allowed to promote after your Form C is filed with the SEC. Oh, and never say the SEC has "approved" your offering. The SEC doesn't like that.

You are allowed to advertise any way you like - email, Facebook, shouting off the rooftops – whatever. However, all your advertisements must be limited to factual information (i.e. avoid saying you have the "best" cupcake shop in the world). Also, by law, all of your advertisements must include a link to your Wefunder profile.

If you haven't filed your Form C, you can ask people to "follow" your profile to show their support, but you cannot say something like: "We are going to fundraise on May 16th." Or: "As soon as we file with the SEC, we'll be raising at a $4 million valuation."

Wefunder Inc. runs wefunder.com and is the parent company of Wefunder Advisors LLC and Wefunder Portal LLC. Wefunder Advisors is an exempt reporting adviser that advises SPVs used in Reg D offerings. Wefunder Portal is a funding portal (CRD #283503) that operates sections of wefunder.com where some Reg Crowdfunding offerings are made.
Wefunder, Inc. operates sections of wefunder.com where some Reg A offerings are made. Wefunder, Inc. is not regulated as either a broker-dealer or funding portal and is not a member of FINRA.
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